Real Estate
Planning to do real estate work? A primer on title insurance and the TitlePLUS program (2018)
If you’re planning to do any real estate work when you go into practice, you’ll soon hear about a resource used by many real estate practitioners – title insurance. It’s a type of insurance coverage that lawyers across Canada are telling their clients about to help protect them against some typical problems that might crop… Read More »
Categories: 2018 Student Issue 6, Areas of Law, Articles, Content Type, LAWPRO Magazine, LAWPRO Magazine Article Type, Real Estate, Student, Title insurance, TitlePLUS, TopicsEverything old is new again: Will the return of a broader rent control regime haunt the Ontario real estate bar?
For decades the existence of rent control has posed a risk to Ontario real estate lawyers acting on the purchase and mortgaging of residential rental property. The range of affected properties is immense: From a basement apartment to a rented single family house to the largest multi-residential complexes in the province, many real estate files… Read More »
Categories: Areas of Law, Articles, Content Type, Failure to Know The Law, Inadequate Investigation, Malpractice Errors, Real EstateRecognizing the red flags of real estate scams involving corporate identity theft
Frauds targeting real estate lawyers are getting ever more sophisticated. LAWPRO has seen several attempted frauds involving corporate identity theft. The properties involved may be commercial or residential, but are always owned by a corporation. How these frauds work These frauds start with the fraudsters changing or stealing the identity of corporate property owners. This… Read More »
Categories: 2018 February Top Legal Disruptions, Areas of Law, Articles, Content Type, Fraud, LAWPRO Magazine, LAWPRO Magazine Article Type, Malpractice Errors, Real Estate, Title insurance, TitlePLUS, TopicsMake sure clients aren’t caught off guard by the Rental Fairness Act
On April 27, 2017 the Province of Ontario amended the Residential Tenancies Act, 2006 (RTA) with the introduction of the Rental Fairness Act. Some of the changes to the RTA are already fully in force, others will come into play in 2018. The amendments to the RTA affect every residential tenancy in Ontario to different… Read More »
Categories: 2018 February Top Legal Disruptions, Areas of Law, Articles, Content Type, Could This Happen to You?, Failure to Know The Law, LAWPRO Magazine, LAWPRO Magazine Article Type, Malpractice Errors, Real Estate, TopicsNRST and Land Transfer Tax Affidavit Updates Effective December 16, 2017
The Ministry of Finance has just announced changes to the statements and payments process for NRST and LTT. These changes are effective December 16, 2017. As of December 16, 2017, Teraview (desktop and web versions) will provide new statements to replace the obligation to account for NRST in statement 9151. The new statements will only… Read More »
Categories: Alerts, Real EstateFOLA endorses standardized residential real estate closing documents
Recently, the Working Group on Lawyers Real Estate undertook the review of five residential real estate closing documents designed to be used in conjunction with the Agreement of Purchase and Sale (APS) approved by the Ontario Real Estate Association (OREA). These documents, which have been successfully used in several Ontario municipalities, have been amended to… Read More »
Categories: Areas of Law, Real EstateResidential Tenancies Act amendments a potential source of claims
LAWPRO is monitoring the impact of changes to the Residential Tenancies Act, 2006 introduced in April. Lawyers who represent landlords and the purchasers of rental properties will have significant responsibility for communicating the changes to their clients and for supporting compliance. The article below, prepared for us by Joe Hoffer of Cohen Highley LLP, provides… Read More »
Categories: Areas of Law, Real EstateDo you know when Teraview on the Web is coming to your region?
Teraview® will be online as early as January 8, 2018, however, the rollout varies based on region. Click here to view the go-live date for your region and the corresponding date when Teraview 9.0 will be discontinued. Once the online version goes live, the previous version will be expired within six weeks and real estate… Read More »
Categories: Real EstateCan’t review your lender client’s draft title policy?
The Residential Real Estate Practice Guidelines published by the Law Society state that a lawyer should, before accepting a title insurance policy on behalf of a client, review the draft policy or binder/commitment to identify any inaccuracies or omissions, and to ensure that the promised coverage is as expected and meets the client’s needs. But… Read More »
Categories: Areas of Law, Real Estate, Title insuranceReflections on technology changes in real estate practice
Facilitating transfers of real estate has been the bread-and-butter of thousands of Ontario lawyers for generations. Despite occasional market wobbles, real estate business has helped firms to flourish in communities of all sizes, often supporting the delivery of family, estates, commercial and even criminal law services. Healthy real estate practices support both lawyers’ own families… Read More »
Categories: 2017 August Managing Change, Areas of Law, Articles, Clerical / Delegation, Communications Errors, Cyber dangers, Features, Inadequate Investigation, LAWPRO Magazine Article Type, Legal Technology, Real Estate, Time Management, Topics